PMT for Revenue officials?

By Vijay Kumar

I am sure you know what PMT means, but I am not referring to that. This is about a more damaging trauma called PRE MARCH TENSION for Revenue officers to hit that much elusive target and however difficult it is, most of them manage to do it – by hook or crook – or statistics! An ingenious way employed by an enterprising Income Tax officer was to attach the Bank Accounts of an assessee a day after the Commissioner (Appeals) passed an order. The Tribunal was not amused and ordered refund. Refund comes only in April or later but target has to be reached in March. See our ITAT case today.